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As lending to solar rooftop projects moves at a snail’s pace, SBI plans to scale up awareness camps

  • Date : 14/03/2020
  • Source : The Hindu Business Line

In May 2016, the World Bank gave the State Bank of India a “loan support” of $625 million ( INR 4,125 crore at the then exchange rate), so that SBI could lend it to solar rooftop projects in India. Nearly four years down the line, SBI has lent only a third of it.

Rooftop solar (industry) operates in a somewhat ambiguous regulatory environment which makes it easy for discoms to put obstacles in the way of the projects,” said Manu Karan, Vice President, Business Development, at CleanMax.

Generally, these obstacles come in the form of holding up approvals. For instance, in Gujarat, a third party cannot put up a rooftop plant; only the roof owner can.